MENTORS Magazine

44 | MENTORS MAGAZINE | EDITION 1

Contrary to the narrative

promulgated by social that

millennials don’t save, stud-

ies show that they are cash-

savvy – and they’re saving

more and buying less than

previous generations. In

fact, this group represents

the bulk of adherents of the

FIRE (Financial Independ-

ence, Retire Early) move-

ment, wherein people try to

save at least half their in-

come to achieve financial

freedom, and in some cases,

early retirement.

According to Liz Thames, au-

thor of “Meet the Frugal-

woods: Achieving Financial

Independence Through Sim-

ple Living” and a prominent

advocate of the FIRE move-

ment, the concept hinges on

By Ryan Boykin